Geopolitical Tensions Keep Oil Market on Edge

TDT | Manama

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Brent crude has retreated below the US$100 per barrel mark after briefly surging past the psychological threshold, though prices remain elevated amid escalating Middle East tensions. Concerns over potential disruptions to shipping through the Strait of Hormuz and the Red Sea continue to support the market, while profit-taking and fears of weaker global fuel demand have limited further gains.

Analysts warn that any escalation threatening key energy transit routes could push prices higher again. Despite the recent pullback, oil remains on track for a strong weekly gain as geopolitical risks continue to dominate market sentiment.